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James Wilson
@jamewils
, 6 tweets, 2 min read Read on Twitter
Anyone know the final figure of income tax collected under IDS-2016? The deadline to remit it is over by 30/09/2017.
Not seen any news...
It is told to Parliament that total amount collected under the IDS shall be firmed up only after the last date of installment, 30.09.2017
See press release on next day (1/10/16) after the last day (30/9/2016) of the IDS-2016 where Rs.65250 Crore undeclared income disclosed
Today is 16th Day of October, the deadline of paying the final installment under IDS-2016 over on 30/9/2017...But see CBDT press releases ;)
As per IDS-2016, the income tax due for Rs.65250 Crore is 45% of it, ie, Rs. 29362.5 Crores. Hope Govt will tell us final figure soon!
Last time Govt took only a single day to release the undisclosed income, but after 16 days, not hearing anything of IT collected #curious
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James Wilson
@jamewils
Imaginary savings!!!

They claim that record income tax collections, claim record GST collection, raised petrol tax to the high, Spectrum & Coal re-aunctioned & got lakhs of crores..

Still, they dont have money to pay the rent of leased aircrafts for PM's world tours.
Please listen to @databaazi, @iam_anandv and @digitaldutta. They all busted these lies regularly!!

Why GoI depends on world bank to sell their claims? Put the raw data on the public domain for scrutiny.
Also listen to @roadscholarz too. All these people are challenging these tall claims consistently here!!!
Read 8 tweets
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James Wilson
@jamewils
Most hilarious news of the day!!

That "chip" note, which claimed to end fake currency & kill black money is now going to have a premature death..

Even Tughluq cant stop laughing 🤣 theprint.in/economy/india-…
Now my prognosis:

Dont fall into the news that these notes are going to be withdrawn, they will stay there!!

RBI is in a dilemma with these ₹2000 notes, which used as a quick fix solution, yep, they are facing the proverbial situation of between devil with deep sea.
₹2000 notes was a quick fix solution during DeMon to replace ₹1000 notes, which are in circulation, numbering 6.858 billion, which constituted 38% of the total Currency in Circulation (CIC).

Why?

If you change the denomination, you should need only 3.429 billion ₹2000 notes
Read 25 tweets
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James Wilson
@jamewils
Let me rewind some of my columns on #DemonetisationDisaster

My last year's detailed take in @frontline_india on

"BLUSTER AS A POLICY"

frontline.in/cover-story/bl…
I concluded that article with the following observations

#DemonetisationDisaster
Of course, in that article I have given an estimate of how much currency is seized as black money due to #DemonetisationDisaster
Read 27 tweets

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@shrikanth_krish
This Indian budget doc suggests that in 2017-18 the govt is projected to earn Rs 19 lac crores as gross tax revenue

Of which the share of Income tax on individuals is ~4.4 lac crores - close to 23%

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